In a macro sense the store of value concept for BTC is getting bullied by the big kid in school. Gold shows of its true value during these times and is as stable as my mothers love <3.
Yes BTC is still a teenager trying to find its place and needs to develope a bit more before it can play with gold for real.
While we all can utilize BTC volatility, we need to learn how it behaves so we can be all gain from its development.
One thing I learned about BTC is that it always want to outshine your expectations in both directions!
BTC tried to break above the 1,6 fiblevel and the red flags were up that we would most likely bounce down to the 3.2 fiblevel. I did not want to believe my own TA. We have the halfing coming up damn it!
The result, we bounce of the last 4.2 fib-level.... SO FAR!
What does this tell us? BTC is no longer a safe have and is very much connected to the remaining financial instruments in the world. Did it crush your dreams? Like if it did!
Where do we go from here? Short answer, to 3.2 level at 6800 within days! Why? Because we all love volatility and fibblevels!
Yes BTC is still a teenager trying to find its place and needs to develope a bit more before it can play with gold for real.
While we all can utilize BTC volatility, we need to learn how it behaves so we can be all gain from its development.
One thing I learned about BTC is that it always want to outshine your expectations in both directions!
BTC tried to break above the 1,6 fiblevel and the red flags were up that we would most likely bounce down to the 3.2 fiblevel. I did not want to believe my own TA. We have the halfing coming up damn it!
The result, we bounce of the last 4.2 fib-level.... SO FAR!
What does this tell us? BTC is no longer a safe have and is very much connected to the remaining financial instruments in the world. Did it crush your dreams? Like if it did!
Where do we go from here? Short answer, to 3.2 level at 6800 within days! Why? Because we all love volatility and fibblevels!